An 11-storey apartment block in Preston city centre has inched closer to becoming a reality after a long-running wrangle over affordable housing was finally resolved.
However, the city council insisted on a “review mechanism” being agreed as a condition of the permission - meaning that payments to compensate for the absence of affordable housing would be secured if more money was ultimately made from the sale of the properties than was forecast.
The so-called “section 106 agreement” needed to finalise that arrangement was supposed to have been completed by the end of August 2022, with work on the project expected to have begun some time this year once more detailed plans had been submitted. However, the affordable housing discussions dragged on for more than 12 months and the deal has only just been struck. That means that the outline permission granted by the committee last summer has now been confirmed.
Under the agreement, the owner of the site will submit a fresh assessment of the viability of the development before the point at which a quarter of the dwellings are occupied. If the council and the owner agree that a “surplus” has been made, then half of the amount will be paid over as a contribution to the cost of creating affordable housing somewhere else in the city. It can also be used for the school place funding wanted by County Hall.
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